EUR/USD is trading in a moderate upward range

On the hourly chart, the EUR/USD pair is trading in a moderate upward range, holding above the 1.1775 level after a short-term correction from the recent high around 1.1810. The main trend remains upward, which is confirmed by the stable position of the price above the MA (200) H1 moving average, which is currently passing near the 1.1710 mark and continues to grow steadily. At the current stage, the pair is recovering from an impulsive decline, but has not yet demonstrated a steady upward breakout. The MACD indicator is moving into a positive zone, and the histogram shows growing green bars, which indicates an increase in bullish momentum. As long as the price remains above 1.1710, the probability of continued growth remains, however, in order to confirm the upward momentum, the pair needs to overcome the 1.1810–1.1830 zone.

Resistance levels are: 1.1810-30, 1.1850, 1.1910

Support levels are: 1.1720, 1.1680, 1.1580-90

The main scenario for the pair's advance suggests a breakout of the resistance at 1.1810-30 (July 1-3 highs) and there may be an increase to 1.1850 (Sep 10’ 2021 high).

An alternative scenario implies a breakout of the support 1.1720 (July 3 low) and there may be a decline to 1.1680 (June 27 low)